Local Pensions Partnership proposed capital restructuring
Decision Maker: Pension Fund Committee
Decision status: For Determination
Is Key decision?: No
This report sets out a proposal from LPP to
change the current capital structure of the group
Exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972. It was considered that in all the circumstances of the case the public interest in maintaining the exemption outweighed the public interest in disclosing the information.
The Head of Fund reported that the proposed capital restructure of the Local Pensions Partnership Group would put the organisation on a similar footing to other pools, increase the financial resilience of the Partnership and preserve the existing ownership arrangements. The Committee noted that the Investment Panel had been consulted and supported the proposed investment on the basis that it was both suitable and appropriate in the light of the Fund's investment strategy.
1. That the £12.5m investment from the Lancashire County Pension Fund into the Local Pension Partnership Group, as set out in the report presented, is approved.
2. That the Full Council is recommended to approve the proposed restructure of the Local Pensions Partnership as set out in the report presented.
Report author: Abigail Leech
Date of decision: 07/02/2020
Decided at meeting: 07/02/2020 - Pension Fund Committee